EFTA02511153.pdf

From: jeffrey E. <[email protected]> Sent: Monday, February 23, 2015 1:20 AM To: Jeffrey Epstein Subject: Leon Leon, in order to keep things in perspective, =A0 and I recognize this is difficult, you have a 6 billion dollar co. with income between 250 -500 millino dollars pe= year. It contains operating biz investments.- loans not=s. , planes boats homes. . trusts grats. over 100 bank accts. . law firms, acct firms, foreign firms. art consultants. contruction consultatnst =ill payers, home mgmt. multitide of Iles with a combined =overhead of less that 3 million dollars. It is out of whack. I have previously sent you tre following note that I wrote to you over a year ago. As=my acute disablity i.e a selective memory seems to be ra=sed often as a concern , I try to memorialize things in =riting in an attempt to lay out issues that might later be a probelm. ie what i would and wouldn=1439;t do , - my resposniblites. and those things that are not. things I thought that were needed to be done so that y=u wouldnt find yourself in the place where you currently find yourself. you chose to=defer most of the requests see below ,until weeks ago. you chose to =gnore the jpm acct. delayed the art partnership into this year. and though=the 60- 50 40 timber emails all carried with it a clear warning that=you needed to do something re personnel you chose not to. Feb 17 2014 i wrote : Wlth=regard the more pressing issue I am uncertain of just how to proceed. I am torn, as my very strong inclination is not to be=20 involved at all . It is extremely time consuming, delicate, fraught w=th many pitfall many that will make you very upset and a major pain in the ass. =AO I wrote you months ago that the quality of the people involved need to =e upgraded. ( lucky for me these last issues arose way before the begi=ning of my involvement ) I am also aware however of my overar=hing friendship obligations of ok, -given all the complexities =who else can do it? problem. Your family office needs a daddy. child=en with good intentions are running around , sniping , nitpicking with little direction. As a stopgap measure I am suggesting , we put in Larry Delson to take charge Everyo=e would report to him. eileen included. He would however work for me. this is not, by a long=shot my first choice as I prefer only being responsible and standing behind =y own personal work ( ie the word DONE will no longer be transmi=ted to reflect status stated by others ) With =o commitment on my part whatsoever, to do it. So far as I have failed in my attempt in trying to think through the problem creatively=. My organizations handling of the more complex issues I believe you might find very costly, very ! ( however many structures available some risk sraring, maybe risk caps ,etc ) but would require my terms doing the work , not yours. Ada should be only a trust, grat administrator. not sure what role you prefer for=Eileen as you hired her initially to oversee investments. whether Ric= your controller stays or not, is not urgent. having Tom report to a =ew person,- is. coordination with Suydam Kathy gregory, I wo=ld suggest limiting to one person. The increasing public profile needs to be tak=n into consideration. talk later..c With your consen= eileen did not report to delson, she continued to provide bad info to both you ( cash flows=C2 Etc) and me. no one was hired to run YOUR office until two months ago =AO and even now at only 75 % of his time. eileen followed your instructions. not mine. in fact she continued to ignore=20 mine saying " but leon " . You would become frustrate= when i pointed out each instance. of her obfuscation. you were given the clear =AO choice and My team was not hired to do the contracting as opposed to architecture, you kept your own team. with eileen at the head. instructions were given by me„ detailed b=t ignored by your people. ( except in the instance where I did the work myself and force= answers ),ex. jpm morgan acct still not in use? that being said =AO your calculation from where you were to where you are . you made a h=Il of a deal. -- negotiating down the original amount requested , call=ng on our EFTA_R1_01643172 EFTA02511153 friendship and suggesting carlyn was partially my fault. ( though in that case, I had never been as=ed to do more than provide you the name of the most highly recommend=d attny ). suggesting that Tom is now that last word on tax characterization frankly is a bit much. however that is all in the past. In ord=r to move forward you must realize that the most precious thing I =AO have is my time . As you are my close friend I will n=t have you participate in the auction that i will have for my time t=is year. keep in mind that Though our deal expired , I have answered every call brad , joslin, ada or you have made since de.. . reviewed docs over and over/ inserted myself strongly when i thoug=t it dangerous not to. I made serious dollar and time concessions last=20 year. I am wiling to continue to accomadate some of your concerns =AO , but I am under no circumstances willing to work any=more for free. its not fair. I was highly aware of the dire circumstances in =hich you found yoursefl and in fact due to the seriousness. of those very circumstances took=20 extra care in our negotiations . I heard you when you said you believ=d i had already been paid for the work that is now required. I have produc=d results far in excess of even my own exalted opinion of my project=ons. I have devoted a monumental amount of time way in excess of our agree=ent. I am willing to roll in the amount still outstanding from last=year if that helps you .. As my best student , and the only one, =AO you are capable of doing most of this yourself. I am of course =AO always available to guide you as a friend if you choose that route . IT=will take a lot of your time , but you will not have to spend any mo=e money on mine . please note<=r> The information contained in this communication is confidential,=may be attorney-client privileged, may constitute inside information, a=d is intended only for the use of the addressee. It is the property of<=r>.IEE Unauthorized use, disclosure or copying of this communication =r any part thereof is strictly prohibited and may be unlawful. If you h=ve received this communication in error, please notify us immediately b= return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communica=ion and all copies thereof, including all attachments. copyright -all r=ghts reserved 2 EFTA_R1_01643173 EFTA02511154